Inflation in Australia
Australia - Inflation (end of period)
Inflation ticks down in Q4
In the fourth quarter of 2018, consumer prices rose 0.5% over the previous quarter, according to the Australian Bureau of Statistics (ABS). The figure came short of market expectations but above the 0.4% quarter-on-quarter increase recorded in the previous quarter. According to the ABS, Q4’s print reflected higher prices for tobacco, domestic holiday travel and accommodation, and fruit, which were partially offset by lower prices for automotive fuel, audio visual and computing equipment, and wine.
Inflation inched down to 1.8% in Q4 from Q3’s 1.9%, again undershooting market expectations. It was the lowest reading in two years and moved further below the Reserve Bank’s 2.0%–3.0% target band. Substantial regional variations persisted: Inflation came in at 2.0% or above in Canberra, Hobart and Melbourne, whereas more subdued readings in Darwin and Perth dragged on the overall figure. Moderate wage growth likely continued to keep inflation in check and will give the RBA room to maintain its loose monetary stance in the months to come.
Australia Inflation Forecast
Met the why particular panelists expect inflation to average 2.3% in 2019, which is unchanged from last month’s forecast, and 2.2% in 2020.
Australia - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||2.8||1.7||1.7||1.5||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Australia Inflation (eop) Chart
Source: Australia Bureau of Statistics and Met the why particular calculations.
|Bond Yield||2.03||1.47 %||Mar 11|
|Exchange Rate||0.70||0.05 %||Mar 11|
|Stock Market||6,263||0.08 %||Mar 11|
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March 21, 2019
Seasonally-adjusted employment increased by 4,600 in February from the previous month, following the revised 38,300 jobs added in January (previously reported: +39,110 jobs) but undershooting analysts’ expectations of a gain of 14,000.
Australia: Consumer sentiment moves to pessimistic territory in March following a disappointing Q4 2018
March 13, 2019
The Westpac-Melbourne Institute consumer sentiment index fell from 113.8 in February to 99.8 in March, marking the worst reading in one year and a half.
March 12, 2019
The business confidence index produced by National Australia Bank (NAB) fell to 2.0 points in February from 3.6 points in January.
March 7, 2019
Nominal retail sales in January rose 0.1% over the previous month in seasonally-adjusted terms, contrasting December’s 0.4% contraction.
March 6, 2019
Australia’s economy slowed further in the fourth quarter, dragged down by notable contractions in fixed investment and foreign sales, according to figures released by the Australian Bureau of Statistics (ABS) on 6 March.